Saturday, February 5, 2011

Facts about China

Many pundits are singing the praises of the Chinese economic miracle, but not everything is rosy in China. Yes, they have taken over a lot of the world's manufacturing through low-cost labor and state subsidies, but  China is not exactly the model of economic or political freedom.  Here are some facts that present a more balanced view or China and its economic central planners:

China's economy grew 7 times as fast as America's over the past decade (316% growth vs. 43%)

China's GDP per capita is the 91st-lowest in the world, below Bosnia & Herzegovina

85 percent of artificial Christmas trees are made in China. So are 80 percent of toys

If he spent his ENTIRE YEARLY INCOME on housing, the average Beijing resident could buy 10 square feet of residential property

China has more pigs than the next 43 pork producing countries combined

Chinese consume 50,000 cigarettes every second

America's fastest "high speed" train goes less than half as fast as the new train between Shanghai and Beijing (150 mph vs 302 mph)

China's enormous Gobi Desert is the size of Peru and expanding 1,400 square miles per year due to water source depletion, over-foresting, and over-grazing

China has 64 million vacant homes, including entire cities that are empty

The world's biggest mall is in China... but it has been 99% empty since 2005

When you buy Chinese stocks, you are basically financing the Chinese government. Eight of Shanghai's top ten stocks are government owned

  • PetroChina
  • Industrial and Commercial Bank of China
  • Sinopec
  • Bank of China
  • China Shenhua Energy Company
  • China Life Insurance Company
  • Bank of Communications

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